Manufacturing posts 16th month of growth

Australia's manufacturing industry posted a strong start to the year and has enjoyed the longest run of expansion since 2005.

Growth in Australia's manufacturing sector has enjoyed 16 consecutive months of expansion; its longest run of growth in 13 years.

The Australian Industry Group's Australian Performance of Manufacturing Index (PMI) rose 2.5 points to 58.7 points in January, which is comfortably above the 50-point level that indicates expansion with anything below that threshold a sign of contraction.

Ai Group chief executive Innes Willox said it was a strong start to the year for the country's manufacturing industry with food and beverage producers leading growth, followed by petroleum, coal and chemical makers.

Source AAP

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